Cannon Trading Futures Blog: Daily Support and Resistance Levels
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Dear Trader,
Tensions with Iraq and some big moves in the crude oil market sent the market down. Expect higher volatility to stay for a while.
LEVELS:
| Contract (JUNE 2007) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1450.57 | 1825.83 | 12565 | 816.87 |
| Resistance 2 | 1443.53 | 1817.42 | 12507 | 811.93 |
| Resistance 1 | 1438.07 | 1803.83 | 12447 | 807.87 |
| Pivot | 1431.03 | 1795.42 | 12389 | 802.93 |
| Support 1 | 1425.57 | 1781.83 | 12329 | 798.87 |
| Support 2 | 1418.53 | 1773.42 | 12271 | 793.93 |
| Support 3 | 1413.07 | 1759.83 | 12211 | 789.87 |
| | | | | |
| Contract | April Gold | June Euro | May Crude Oil | June Bonds |
| Resistance 3 | 675.70 | 1.3465 | 62.45 | 112 27/32 |
| Resistance 2 | 672.60 | 1.3441 | 61.25 | 112 17/32 |
| Resistance 1 | 669.70 | 1.3399 | 60.60 | 112 2/32 |
| Pivot | 666.60 | 1.3375 | 60.00 | 111 24/32 |
| Support 1 | 663.70 | 1.3333 | 59.20 | 111 9/32 |
| Support 2 | 660.60 | 1.3309 | 58.60 | 110 31/32 |
| Support 3 | 657.70 | 1.3267 | 57.90 | 110 16/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Thursday, Mar 29th, 2007
Economic
08:30am Initial Jobless Claims (last 316K), Q4 Final GDP Annualized (last 2.2%), Personal Consumption (last 4.2%), GDP Price Index (last 1.7%), Core PCE Q/Q (last 1.9%)
10:00am Feb Help Wanted Index (last 32)
10:30am Natural Gas Inventories
01:00pm Treasury's 5-year Note Auction results
Events
Anesthetic and Life Support Drugs Advisory Committee meets at 8:00am. Cellular, Tissue and Gene Therapies Advisory Committee meets at 8:00am. Fed's Lacker gives Opening Remarks at Financing Community Development conference at 8:30am. BRCD, LMNX analyst meeting. BofA Media, Telecommunications & Entertainment conference in NYC through 3/29. Fed's Kohn testifies on Industrial Loan Companies in front of House Financial Services Committee at 10:00am. Fed's Stern speaks on Federal Reserve in Ohio at 12:00pm. Fed's Lacker speaks on Inflation and Unemployment in Richmond at 8:00pm. Trades Ex-dividend: TYC $0.10.
Earnings
Before the Open: AGE KMX CMRG CHINA CONN FDO MOV SCS SRR TXI UTIW WTSLA WOR. After the Close: BSET CKR COGN DSW FINL KNTA RHT SLR TIBX.
Note all time are EST. ANY AND ALL TIMES AND DATES ARE SUBJECT TO CHANGE WITHOUT NOTICE. INFORMATION HAS BEEN TAKEN FROM SOURCES DEEMED TO BE RELIABLE, BUT NO ASSURANCES CAN BE MADE TO THE ACCURACY OF ANY OF THIS INFORMATION.
This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts herein contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgment in trading!
Sincerely,
Ilan Levy-Mayer, M.B.A
Vice President
Cannon Trading Co Inc.
http://www.cannontrading.com
http://www.E-Futures.com
ilan@cannoncapital.com
Yahoo IM ilanlevy1970
310-859-9572
800-454-9572
Fax 310-859-0547
9301 Wilshire Blvd. Suite #614
Beverly Hills, Ca 90210
The finest compliment I can receive is a referral from a trusted client.
* Important Please Note:
Trading commodity futures and options involves substantial risk of loss.
The recommendations contained in this letter is of opinion only and does not guarantee any profits.
These are risky markets and only risk capital should be used.
Past performances are not necessarily indicative of future results.
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